The Appellate Division of the Supreme Court today cleared the way for government-appointed independent directors of Beximco, Beximco Pharmaceuticals, and Shinepukur Ceramics to resume their duties. 

The Bangladesh Securities and Exchange Commission (BSEC) appointed 11 independent directors to the three listed companies on December 31 last year, following a directive from the Financial Institutions Division (FID) under the finance ministry. 

Today, the Appellate Division stayed for three weeks the High Court orders that had, on January 15, halted the BSEC decision to appoint the independent directors. 

The apex court also directed the High Court to dispose of the rules issued on January 15, questioning the BSEC decision's legality within three weeks. 

A four-member bench of the Appellate Division, led by Chief Justice Syed Refaat Ahmed, passed the orders following three separate leave-to-appeal petitions filed by BSEC seeking a stay on the High Court orders. 

Attorney General Md Asaduzzman and Barrister Abul Kalam Azad represented the BSEC, while Barrister Fida M Kamal and Barrister Kamal Ul Alam appeared for Beximco, Beximco Pharmaceuticals, and Shinepukur Ceramics. 

With the Supreme Court stay order, there is no legal bar for the independent directors to assume their roles, BSEC's lawyer Abul Kalam Azad told The Daily Star. 

The High Court had earlier stayed the BSEC decision on January 15 after Beximco Ltd, Beximco Pharmaceuticals, and Shinepukur Ceramics filed three separate writ petitions.

It also issued three rules asking the government to explain why the BSEC's decision should not be declared illegal. 

Earlier, the FID reportedly directed the BSEC to appoint independent directors to the Beximco companies based on recommendations from an advisory council committee formed by the government to address issues related to Beximco. 

The decision was made during a meeting on December 31 that focused on labour and business conditions at Beximco Industrial Park. 

Following the arrest of Beximco Group Vice Chairman Salman F Rahman, the companies faced significant challenges, including labour unrest that spilled onto the streets. 

In response, the government decided to appoint independent directors from diverse professional backgrounds.